Natural calamities such as storms, cloud bursts, etc., have always been a major concern in-front of the world. Weather forecasting is a tool which helps to foresee the environmental and atmospheric conditions of a particular region.

The global weather forecasting system market is envisioned to escalate from USD 1.5 Billion in 2015 to reach USD 2.2 Billion in 2021, registering a compound annual growth rate (CAGR) of 7.0%. Geographically, the eather forecasting market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific, Middle East and North Africa (MENA) and Rest of World.

Market Segmentation

By End Users

The global weather forecasting system market is segmented based on end users into agriculture, aviation, marine, energy, military and transportation.

By Component

On the basis of components, the global weather forecasting system market is divided into data software, hardware, data loggers and sensors.

Based on system type, the global weather forecasting system market is segmented into weather radar, weather satellite systems, sounding systems, weather station and radiosondes.

By Forecast Type

Global weather forecasting system market is segmented on the basis of forecast type into normal range, short range, medium range and long range.

Growth Drivers and Challenges

Expansion of the global weather forecasting system market is expected to get sparked from some of the major factors including increase in travel via air and sea, growing safety concerns, and unpredictability in rainfall.

In addition to that, strengthening economy of some of the developing economies is also anticipated to augment the growth of global weather forecasting system market in future.

However, higher equipment cost along with complexity of weather forecasting procedures is likely to dampen the growth of global weather forecasting system market over the forecast period i.e. 2015-2021.

Market Size and Forecast

At present, North America holds the top rank in global weather forecasting systems market followed by Europe.

Asia-Pacific weather forecasting system market is anticipated to witness the highest compound annual growth rate (CAGR) of 7.5% over the forecast period i.e. 2015-2021. The market in the region is likely to thrive from rapid growth in transportation in some of the major countries such as India and China. In addition to that, dependency on rainfall for an agrarian economy i.e. India is also believed to soar the demand of an efficient weather forecasting system in Asia-Pacific region in coming 4-5 years.

Key Players

Global weather forecasting system market is very competitive and includes some of the top players such as Campbell Scientific, Inc., Vaisala Oyj, Airmar Technology Corporation, Columbia Weather Systems, Morcom International, Inc., All Weather, Inc., Inc., Thales S.A., etc.